Structured products
BNP Paribas launches Australian dollar synthetic CDO
French bank BNP Paribas has launched an Australian dollar-denominated synthetic collateralised debt obligation (CDO) in an effort to appeal to Australia’s institutional investor base.
Sumitomo closes Japan’s first CDO backed by structured finance transactions
Tokyo-based Sumitomo Trust and Banking (STB) has closed Japan's first synthetic collateralised debt obligation (CDO) referenced to a semi-managed portfolio of structured finance transactions. The deal was worth ¥70 billion ($591 million).
Catching the Basel 'tail wind'
Christian Jimenez, chief risk officer at Eulia, has used momentum from regulatory change to overhaul antiquated risk management policies.
Lehman launches more minibonds in Hong Kong
Lehman Brothers has launched retail minibonds linked to the credit of Hong Kong conglomerate Hutchison Whampoa today, making it the fourth time the bank has launched such a product in the Hong Kong Special Administrative Region.
Corporate Governance Survey 2003, Part 1 >> Op risk disclosure: a long road ahead
Although most banks now have a separate section on operational risk in their annual reports, disclosure levels vary considerably. Here, Operational Risk's editorial staff review 15 bank annual reports to uncover reporting and management practices in 2002
Firms rise to the op risk data management challenge
NEW YORK - Like all risk management problems, operational risk relies on a sufficient supply of good quality data if analysis is to be meaningful and decision-making effective.
CP3 Comment: Why be standardised?
It seems such a short time ago that we were building a new capital Accord, which would incentivise banks to improve their risk management and encourage them to move along the spectrum of the new Accord's three stages. How rapidly things can change.
SG to be first to market with UK currency warrants
SG, the investment banking arm of Société Générale, will issue the first currency warrants in the UK next week. The move follows the release of warrants linked to oil, gold and house price moves by Goldman Sachs, SG’s biggest rival in this area.
Regulators could stifle retail derivatives development, warns speaker
Overly strict financial regulations could stifle the development of derivatives products for retail investors, warned a keynote speaker at an international derivatives conference today, co-hosted by the Futures and Options Association (FOA) and the…
Risk USA 2003: convertible bond replication soon possible, says hedge fund chief risk officer
Prospects for the replication of convertible bonds with other corporate securities and their derivatives are improving, said Jim Vinci, chief risk officer of Greenwich, Connecticut-based convertible bond arbitrage fund Paloma Partners, at the Risk USA…
Delayed trac-x Europe launches today
Trac-x Europe, part of a family of credit default swap indexes being assembled by JP Morgan Chase and Morgan Stanley, debuted trading today. A funded format is due to start trading the week of June 30. This follows a delay of about six weeks.
A new direction
Taiwan
Regulators could stifle retail derivatives development, warns speaker
Overly strict financial regulations could stifle the development of derivatives products for retail investors, warned a keynote speaker at an international derivatives conference today, co-hosted by the Futures and Options Association (FOA) and the…
Banks not ready for advanced IRB, says Trema speaker
Many international investment banks are not yet ready to implement the advanced internal-ratings-based approach to measuring credit risk, according to a controversial speaker at this week's Trema World Forum in Monaco.
European buy side still lags in risk management
The findings of a recent survey show that buy-side firms have increased their focus on risk management, but are still well behind their sell-side counterparts.
Weather derivatives notional volumes fall by $100 million
The Weather Risk Management Association (WRMA), the international trade organisation of the weather derivatives industry, yesterday said that the notional value of weather derivatives contracts fell by $100 million from last year’s figures.
Banks not ready for advanced IRB, says Trema speaker
Many international investment banks are not yet ready to implement the advanced internal-ratings-based approach to measuring credit risk, according to a controversial speaker at this week's Trema World Forum in Monaco.
CSFB debuts Cindi
Credit Suisse First Boston (CSFB) has launched a pair of credit default swap indexes called the Credit Indexed-Note Default Index (Cindi).
Securitisation will not be damaged by Basel II, says Mercer Oliver Wyman
Securitisation and related forms of credit risk transfer are unlikely to suffer in the long-term under the Basel II proposals, according to a report published today by financial and risk management consultancy, Mercer Oliver Wyman.
Lehman to launch credit default swap indexes
Lehman Brothers plans to launch a number of credit default swap indexes covering the US, Europe and Japanese credit default swaps (CDS) market by July.
Nomura taps retail market with Japan fund of funds
Nomura Securities has begun distributing its first Japanese fund-of-hedge-funds product targeted at Japanese retail investors. Called Nomura Japan Stock Market Neutral Fund 03-05, the fund invests in four underlying Japan-focused market-neutral funds.
Speed The Recovery
Half of the time it now takes for Evergreen Investments to restore its data in its offsite data center is spent driving to the disaster recovery site.
Securitisation will not be damaged by Basel II, says Mercer Oliver Wyman
Securitisation and related forms of credit risk transfer are unlikely to suffer in the long-term under the Basel II proposals, according to a report published today by financial and risk management consultancy, Mercer Oliver Wyman.
Creditex teams with Gimme Credit to offer credit derivatives research
US online broker Creditex has created a new company with partner Gimme Credit, a US corporate bonds research company, to offer independent research on credit default swaps.